List of UK Retail Store Closings in 2009 (Ongoing)
News of retail store closures in the United Kingdom seems to be arriving daily, as the economic downturn is forcing companies to restructure or file for bankruptcy and close their doors. NowPublic has compiled a list of companies that have entered administration, receivership, bankruptcy or have announced restructuring plans that will see the elimination of stores and jobs.
More than one in seven British retail sites, or about 135,000 outlets, will be unoccupied by the end of 2009 as growing numbers of shops are driven out of business by the economic downturn, researchers Experian said on Tuesday.
Experian forecast that vacancy rates on Britain's shopping streets would reach a record 15 per cent by the end of this year, up from 7 per cent.
This list will be continually updated in order to keep track of all new developments within the UK retail industry.
- Woolworths (875 store closures, thousands of jobs lost)
- Adams (111 stores, 850 jobs)
- Marks + Spencer (27 stores, 1,250 jobs)
- Waterford Wedgwood (2,000 jobs)
- Whittard (130 stores)
- Morgan (575 stores)
- Passion for Perfume (46 stores, 185 staff)
While Morgan is a French company, it is 40% owned by UK private equity group Apax Partners.
Woolworths went into administration in November 2008, but the last if it's stores were closed in the first days of 2009.
Marks + Spencer announced the closure of 27 underperforming stores and 1,250 job cuts on January 7, 2009. The steps were cited as necessary in order to ride out the recession.
Related NowPublic.com story: List of US Retail Store Closings in 2009 (Ongoing)